The first in the United States! The Arizona legislature passes a Bitcoin reserve bill, allowing up to 10% of public assets to be allocated to Bitcoin

Local time on Monday, the Arizona state legislature in the United States passed a bill allowing up to 10% of public funds to be invested in Bitcoin and digital assets. If signed by the governor, this move will make Arizona the first state in the U.S. to officially establish a Bitcoin reserve. The Arizona House of Representatives passed two key bills on April 28, aimed at establishing Bitcoin and digital asset reserves for the state: The first bill—Senate Bill 1025 (SB1025) amends existing regulations to allow for the establishment of a strategic Bitcoin reserve, passing with 31 votes in favor and 25 against. The second bill—Senate Bill 1373 (SB1373) aims to create a broader state-level digital asset reserve, passing with 37 votes in favor and 19 against. These two bills will authorize the Arizona State Treasurer to allocate up to 10% of public funds to virtual currencies such as Bitcoin. Representative Jeff Weninger defended SB1025, stating that this move aligns with approximately 15 other states nationwide considering similar measures. Although these bills have passed in the Arizona legislature, they still require the signature of Governor Katie Hobbs (Democrat) to take effect. Notably, Hobbs had previously threatened to veto all legislation unless the funding issue for medical services for people with disabilities was addressed, but she withdrew this blanket veto threat after reaching a bipartisan agreement on April 24. It is worth noting that while these bills allow for investment in digital assets, they do not require immediate action. SB1373 also authorizes the use of seized cryptocurrency assets and future appropriations to establish reserves, incorporating on-chain auditability and standard risk controls. Arizona's initiative is occurring in tandem with discussions at the national level in the U.S. regarding the establishment of cryptocurrency reserves. In March of this year, President Trump signed an executive order proposing the creation of a "strategic Bitcoin reserve" and a "digital asset reserve." Republican lawmakers, including Wyoming Senator Cynthia Lummis, have proposed legislation aimed at allowing the federal government to hold over 1 million Bitcoins, some obtained through civil or criminal forfeiture. Meanwhile, Texas, Florida, and New Hampshire are also advancing similar legislation, with growing interest among states in integrating cryptocurrency into public finance strategies. Following the vote in Arizona, Bitcoin surged, currently trading near $95,000, up 25% from its low in early April. Risk warning and disclaimer The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances Invest based on this, and you bear the responsibility